Greater Norfolk Corporation
- Assets
- $89.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 00/0000
- Data as of
- 05/2022
- EIN
- 54-1081488
Organization Overview
Greater Norfolk Corporation is located in Norfolk, VA. The organization was established in 0000. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Norfolk Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 05/2022, Greater Norfolk Corporation generated $187.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $197.1k during the year ending 05/2022. While expenses have increased by 3.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
DEVELOPED AND ARE CURRENTLY IMPLEMENTING A PLAN AND STRATEGIES TO HELP BUILD AN ENTREPRENEURIAL CLIMATE IN NORFOLK (AND THE REGION) THAT WILL JUMPSTART THE DEVELOPMENT AND GROWTH OF INNOVATION BASED BUSINESSES AND JOBS, INCLUDING ESTABLISHMENT OF A NATIONAL CALIBER CAREER/TECHNICAL HIGH SCHOOL IN NORFOLK; ELEVATING THE ELIZABETH RIVER TRAIL INTO A WORLD CLASS ASSET THAT WILL BE A MAGNET FOR ATTRACTING AND RETAINING TALENT AND ESTABLISHMENT OF AN INNOVATION CORRIDOR/DISTRICT STRETCHING FROM OLD DOMINION UNIVERSITY TO NORFOLK STATE UNIVERSITY THAT INCLUDES ANCHOR INSTITUTIONS IN EDUCATION, HEALTH CARE, THE ARTS AND BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Bishop Executive Vp-Through Sept 2021 | 40 | $79,428 | |
Linda Peck Executive Director | 40 | $31,250 | |
Kenneth Royster Board Member | 1 | $0 | |
Sharon Byrdsong Board Member | 1 | $0 | |
Mark Moosic Board Member | 1 | $0 | |
Robert Bowen Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $187,384 |
| Investment income | $13 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $187,397 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $118,214 |
| Professional fees and other payments to independent contractors | $4,475 |
| Occupancy, rent, utilities, and maintenance | $3,152 |
| Printing, publications, postage, and shipping | $1,149 |
| Other expenses | $33,319 |
| Total expenses | $197,133 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $80,932 |
| Other assets | $0 |
| Total assets | $89,615 |
| Total liabilities | $3,610 |
| Net assets or fund balances | $86,005 |
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